Utah Community Credit Union

 

 

Business Savings Rates

Print Rates



Business Main Savings

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Business Daily Savings

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Platinum Business Savings

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Platinum Business Money Market Savings

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Certificates

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*APY = Annual Percentage Yield

TRUTH-IN-SAVINGS DISCLOSURES Except where specifically described, the following disclosures apply to all of the accounts: Dividend Rate Information - The dividend rates for all Business Savings, Business Checking, and Savings Certificate accounts are determined at the discretion of the board of directors. Business Savings, Platinum Business Savings, Platinum Business Money Market Savings are tiered dividend rate accounts. The dividend rate and annual percentage yield applicable to these accounts depends on the balance ranges set forth herein. Once a balance range is met, the dividend rate and annual percentage yield for that range will apply to the full balance of your account. For Business Savings, Platinum Business Savings, and Checking accounts, the dividend rate and annual percentage yield may change monthly. For Platinum Business Money Market Savings accounts, the dividend rate and annual percentage yield may change daily. For Savings Certificate accounts, the dividend rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings. The dividend rates and annual percentage yields are accurate as of the date set forth herein. Nature of Dividends- Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Compounding and Crediting - Dividends will be compounded monthly and credited monthly. The dividend period is monthly. The dividend period begins on the first calendar day of each month and ends on the last calendar day of the month. The dividend declaration rate is the same as the ending date of the dividend period. If you close your account before dividends are paid, you will not receive the accrued dividends. Dividend Computation – For Business Savings, Platinum Business Savings, and Savings Certificate accounts, dividends are calculated by the average daily balance method which applies a periodic dividend rate to the average daily balance in the account for the period. For the Platinum Business Money Market dividends are calculated by the daily balance method, which applies a daily periodic dividend rate to the balance in the account each day. Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) into your account. Minimum Balance Requirements - The minimum balance requirements to open an account and to obtain the disclosed annual percentage yield are set forth herein. Account Limitations - For Platinum Business Money Market transaction limitations will apply. No more than six preauthorized, automatic or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed these limitations, your accounts may be subject to a fee or be closed. For Business Savings or Platinum Business Savings no transaction limitations apply. Specific Account Details Free Business Checking Account – No minimum balance requirements apply to this account. Transaction Limitations – You are limited to no more than 300 transactions (deposits, deposited items, and withdrawals) per month. If you exceed 300 transactions two times in a six month period, then the account may be subject to conversion to a Commercial Checking account. Commercial Checking Account – No minimum balance requirements apply to this account. No transaction limitations apply to this account. Fees and charges apply to this account please refer to our separate fee schedule for charges that apply to this account. Bylaw Requirements - You must complete payment of one share into your Savings account as a condition of admission to membership. The par value of a share is $5.00. If at any time your balance falls below the par value of one share and you do not increase the balance to at least the par value of one share within six months of the reduction, you may be terminated from membership.

 

NCUA Equal Housing Lender
Utah Community Credit Union, PO Box 1900, Provo, Utah 84604, 1 (800) 453-8188. All Rights Reserved. Utah Community Federal Credit Union does business as (DBA) Utah Community Credit Union. Unauthorized account access or use is not permitted and may constitute a crime punishable by law.